What's the Name of That Book??? discussion

I read only the first couple chapters many years ago, and this is what I remember:
The book was old. I'd estimate that it was written in the 1800's.
It was over 200 pages.
The frame story was about a man and woman who were romantically involved. The setting was a European estate. The male character began to tell the main story to his partner that night.
The main plot was about warring kingdoms of Giants/trolls/ogres, not sure which. Many were described as having horns and vibrantly colored skin. One group was in the great hall of a castle conducting a war counsel about how to deal with the opposing group. Then a messenger from the opposing group came and there was a lot of sizing each other up.
Additional info:
I believe that this book was a Penguin Classic.
It may not have been originally written in English, because I believe that I remember there being translator's notes.
I am so sorry for my possibly flawed memory of this book, and I GREATLY appreciate any help. I'm driving myself crazy trying to find this book!!

This sounds like The Worm Ouroboros by E.R. Eddison. It was published in 1922 but does seem older because he uses very antiquated, Elizabethan-esque language. It has the frame story you mention.

"The book describes the protracted war between the domineering King Gorice of Witchland and the Lords of Demonland in an imaginary world that appears mainly medieval and partly reminiscent of Norse sagas...." (Wikipedia)

Thank you!! I can fall asleep now!

You're welcome.